Why Bangalore’s Marathahalli is on the Rise

Bangalore is synonymous for the Information Technology sector. The economy of this city is irrevocably linked to this sector. So is the real estate sector. Some of the most important real estate hubs of the city are IT hubs. Whitefield and Electronics City are some of the best examples of this.

Marathahalli is also an IT hub which has developed into a real estate hub. This area was once a quiet village. Once the IT boom hit the city, this village also was carried along by the momentum. It is surrounded by localities such as Bellandur, Doddenakundi, Kundalahalli, Brookefield, Kadubeesanahalli and Whitefield. Its proximity to IT hubs such as Whitefield, Electronics City and real estate hubs such as Sarjapur Road that has made Marathahalli a popular real estate destination.

The Outer Ring Road which runs through this locality serves to connect it to most of the other micro markets in the city. The National Highway 7 also runs through this locality. The Old Airport Road and the Whitefield Road are some of the other important roads which pass through this micro market. The Kempegowda International Airport located in north Bangalore’s Devanahalli is located at a distance of 45 kms from Marathahalli. The railway station which is closest to Marathahalli is located in KR Puram.The going rate for flats for sale in Marathahalli stands at INR 4800 per square feet on average. The going rate here stood at INR 3200 per square feet on average. This is a price appreciation of almost 50 percent. Prices here have been peaking from the second quarter of 2013 when the average stood at INR 3400 per square feet.

Buyers are willing to spend anywhere between INR 3001 and INR 3500 per square feet on properties such as bangalore new projects. This is followed by the INR 3501 to INR 4000 per square feet range. The budget range most preferred for flats for sale in Marathahalli falls between INR 30 to 40 lakhs. This is followed by the INR 40 to 50 lakhs range. The unit size most in demand for new projects in Marathahalli falls between 1001 and 1250 square feet followed by the 1251 and 1500 square feet range. There is maximum demand for 2 BHK flats in Marathahalli followed by 3 BHKs.

Marathahalli is an IT hub in itself. Those employed in the IT sector make up the majority of those who are looking to buy properties here. Even though the area is has been on the developmental fast track for the last 20 years, it is still lacking in the infrastructural front. The residents of this locality are dependent on water tankers for regular water supply. The ground water levels here have dipped over the years due to the area’s increasing popularity.

Despite this the area is still preferred over Whitefield because the going rate for properties here is much lesser than those in Whitefield. Though there are some factors which are not in its favour, overall the locality still scores as a real estate hub.

Ranjitha is a freelance writer and blogger, following the Houses for sale in Bangalore and real estate sector closely for many years.